Traditionally, carrying large amounts of cash has posed significant security challenges, particularly along shipping routes prone to piracy. The potential for theft and violence not only puts crew members at risk but also disrupts maritime operations.
By transitioning to digital payments, companies are minimising these dangers, reducing reliance on physical cash, and safeguarding both crew welfare and operational efficiency.
‘By eliminating cash from vessels, we’ve not only increased financial security and protected crews from threats like piracy but also addressed significant risks for ship owners and operators.
…stressed Stuart Ostrow, President of ShipMoney.
In addition to safety benefits, digital payments have brought greater efficiency to the maritime industry. Real-time payments, automated transfers, and streamlined payroll processes have reduced administrative burdens, while increasing transparency and flexibility. Maritime companies can now maintain seamless operations in even the most remote or high-risk locations.
As the industry continues to navigate the future, digital payment solutions are proving to be an essential tool for securing safer, more efficient shipping routes, ShipMoney concluded.
